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Which brand has the least pricing power

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Consider the price elasticity matrix provided below, which presents own- and cross-price elasticities for three national brands of orange juice.

EFFECT OF A 1% PRICE INCREASE

For Minute Maid For Simply Orange For Tropicana PRODUCT on Sales of ... on Sales of ... on Sales of ...

Minute Maid -3.88 .59 .62

Simply Orange .40 -4.40 .42

Tropicana .39 .43 -4.60

a. Given this information, which of these three brands has the greatest pricing power? Why? Be detailed, and consider own-price and cross-price elasticities in supporting your answer. (25 points)

b. Based on this information, which brand has the least pricing power? Again, consider own-price and cross-price elasticities in detailing your response.

Reference no: EM132795196

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